Under FASB standards how would a not-for-profit organization recognize a conditional pledge?
A) It would debit Pledges Receivable and credit Contributions-Temporarily Restricted.
B) It would debit Pledges Receivable and credit Deferred Contributions.
C) It would disclose the amount of the conditional pledge in the notes to the financial statements.
D) It would not recognize the conditional pledge until pledge conditions are substantially met.
Correct Answer:
Verified
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